Yeah, that makes sense. For some reason, I was under the impression that all calculations run locally in the browser, which would have been comparable to how Excel desktop works (i.e., local calculations). Is there a reason for why the Excel calculations run on the server (e.g., excessive workload of a browser implementation, proprietary code, difficult to implement in JavaScript, cross browser compatibility issues, etc.)? Furthermore, if the reason for this architecture is (or was) limitations in JavaScript or browsers, do you find it plausible that the Excel calculations will some day be implemented in Webassembly?
Regardless, I have always preferred Excel desktop over Excel web (and other web based spreadsheet alternatives). This information makes me somewhat less interested in Excel web. Nonetheless, I find Excel Add-Ins useful, primarily because they bring the capabilities of JavaScript to Excel.